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Public insurance adjusters: An alternative to helping policyholders win claims

Public adjusters draw regulatory scrutiny and some blame for Florida’s property insurance woes Many homeowners don’t fully understand their property insurance policies and are at a disadvantage when negotiating with insurers about repairs needed after a fire, theft, hurricane or other disaster. That’s the premise behind the public insurance adjusting industry, which has grown substantially…

Public Insurance Adjusters help Policyholders Win Claims

Many homeowners don’t fully understand their property insurance policies and are at a disadvantage when negotiating with their insurers about repairs needed after a fire, theft, hurricane or other disaster. Public insurance adjusters assess damages, determine what the policy covers, document evidence to support claims and assess what repairs will cost. In Florida, they can…

Under Alex Sink’s Department of Financial Services Florida Insurance Companies only get a slap on the hand when they break the law.

A Florida online insurance agency found to have sold homeowners policies using unlicensed personnel will pay a $100,000 fine. The agency will also contact every customer affected and offer to rewrite their policies, under terms of a settlement reached with state officials. In March, Chief Financial Officer Alex Sink’s Department of Financial Services took legal…

A bad deal from Citizens – St. Petersburg Times

Florida’s state-run insurer absolutely should be rooting out fraud and incompetence that is inflating hurricane-mitigation discounts for homeowners. But Citizens Property Insurance Corp.’s board of directors should not award a no-bid $60 million contract to a private vendor who has not tackled a project of this size. The board should reconsider and seek competitive bids.…

Nationwide Insurance to drop 60,000 homeowners policies in Florida – St. Petersburg Times

Nationwide Insurance Co. announced plans Wednesday to drop about 60,000 homeowners policies across Florida, including more than 10,000 in the Tampa Bay area. Nationwide, the latest insurer to dramatically scale back its presence in the hurricane-prone state, said nearly all customers with only a homeowners policy will be affected. About 45,000 Nationwide customers who have…

HURRICANE IKE: State looking into roof damage policy

State regulators are investigating how the Texas Windstorm Insurance Association handles certain roof claims related to Hurricane Ike. At issue is whether unsealed asphalt shingles are considered damaged, and if so, whether Ike was the cause. The windstorm association doesn’t always think so. But some homeowners say they have valid claims because Hurricane Ike lifted…

Nationwide Mutual settles class action over underpaid claims

A class-action settlement involving homeowners policies written by Nationwide Mutual Insurance Co. and its affiliates could lead to homeowners receiving money for claims submitted over the last 13 years. The settlement is between Nationwide and its affiliates and homeowners policyholders who say they were not paid enough for claims submitted between 1996 and March 20,…

Appeals Court Affirms State Farm Denial For Increase

A Florida appeals court affirmed an administrative judge’s ruling that allows the state’s Insurance Commissioner Kevin McCarty to deny a homeowners insurance rate increase to State Farm. Without comment, Florida’s District Court of Appeals, First District, in Tallahassee, yesterday affirmed the commissioner’s denial. A reverse decision could have increased rates by as much as 67…

Homeowners Insurance and Earthquakes, Landslides, Hurricanes

Earthquake, expansive soil, flood, hurricane, landslide and subsidence damage usually not covered! “All Perils” Means:   Learn About the Geology Every year in every state many property owners discover that their homeowners insurance policy will not pay when their homes are damaged by common geological processes such as earthquakes, expansive soils, floods, hurricanes, landslides and subsidence.…

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